CFA一级考试财政政策工具辅导.docxVIP

全球最大的 CFA( 特许金融分析师 )培训中心 CFA 一级考试财政政策工具辅导 R110‐3 Fiscal Policy Tools: Spending Tools, Revenue Tools Desirable attributes of tax policy R111‐3 Spending Tools: Transfer payments: redistribute wealth, taxing some and making payments to others,transfer payments are not included in GDP computations. Current spending: government purchases of goods and services on an ongoing and routine basis. ◆ Capital spending: government spending on infrastructure such as roads, schools,bridges, and hospitals R112‐ 3 Revenue Tools Direct taxes are levied on income or wealth. These include income taxes, taxes on income for national insurance, wealth taxes, estate taxes, corporate taxes, capital gains taxes, and Social Security taxes ◆ Indirect taxes are levied on goods and services. These include sales taxes, value ‐ added taxes (VATs), and excise taxes. ◆间接税的执行速度较快 R113‐ 3 Advantages of fiscal policy tools Social policies such as discouraging tobacco use can be implemented very quickly via indirect taxes Quick implementation of indirect taxes also means that government revenues can be increased without significant additional costs R114 ‐3 Disadvantages of fiscal policy tools Direct taxes and transfer payments take time to implement, delaying the impact of fiscal policy 总部地址：上海市虹口区花园路171 号 A3 幢高顿教育 1 电话： 400-600-8011 网址： finance.gaodun.cn 微信公众号： gaoduncfa 全球最大的 CFA( 特许金融分析师 )培训中心 Capital spending also takes a long time to implement. The economy may have recovered by the time its impact is felt. 各位考生， CFA备考已经开始，为了方便各位考生能更加系统地掌握考试大纲的重点知识，帮助大家充分备考， 体验实战，高顿网校开通了全免费的 CFA题库（包括精题真题和全真模考系统），题库里附有详细的答案解析，学员可以通过多种题型加强练习，通过针对性地训练与模考，对学习过程进行全面总结。 总部地址：上海市虹口区花园路171 号 A3 幢高顿教育 2 电话： 400-600-8011 网址： finance.gaodun.cn 微信公众号： gaoduncfa